London, Ontario is exploring a new approach to address its downtown vacancy issue by actively recruiting desired shops, services, and community spaces rather than passively waiting for businesses to fill empty storefronts. Inspired by a successful British initiative called the Vacant Shops Academy, which has significantly reduced storefront vacancies in various towns and cities in England, the founder, Iain Nicholson, believes a similar strategy could be effective in London and Old East Village.
The Vacant Shops Academy’s method involves forming a “place partnership” that includes real estate agents, landlords, businesses, community groups, chambers of commerce, and business improvement agencies. Together, they collaborate to identify suitable occupants for each vacant storefront, prepare the spaces for occupation, and actively recruit businesses and organizations that align with the community’s vision for the area.
This proactive approach aims to prevent storefronts from remaining empty while diversifying the types of businesses present on main streets. Nicholson emphasizes the importance of moving beyond traditional retail, hospitality, and service establishments to include arts and crafts, creative ventures, community initiatives, leisure activities, education, health, and well-being services to enhance the vibrancy of the area.
In London, where high office and retail vacancy rates persist, city officials are considering embracing this innovative strategy to revitalize the downtown core. With over 130 empty storefronts in the city and a 30% vacancy rate in Old East Village, there is a pressing need to attract a diverse range of businesses and services to cater to the needs of residents and workers in the area.
While London has made efforts to attract businesses downtown, the scale and targeted approach advocated by the Vacant Shops Academy have yet to be fully implemented. City manager Ryan Craven acknowledges the importance of activating vacant spaces, providing business support, enhancing programming, and developing a comprehensive leasing and occupancy strategy for downtown revitalization.
Nicholson’s approach also involves utilizing pop-up shops in vacant storefronts, creating visual displays to deter vandalism and graffiti, and engaging with local councils to address challenging properties. By actively involving stakeholders and taking concrete steps to revitalize vacant spaces, the community can foster a more vibrant and inclusive downtown environment that encourages social engagement and economic growth.